First of all, the term "classic car" is one of the most abused terms in the English language. To most sellers, anything built before 1980 qualifies for classic status. Not true. The official definition accepted by all car clubs and associations consists of a specific group of identifiable cars built prior to and including the production year 1948. Other subsequent cars, mostly post war, are also specific and are referred to as "special interest."

People often ask the question "what is this car really worth?" Guidelines are readily available, most of which bear no resemblance to reality. Cars priced by these guides at say $10,000 routinely sell for either half that or for three times as much. There is only one logical answer to the question. The value is determined by the buyer, and the number is whatever the buyer and seller agree upon.

I've seen both ends of the scale.....perfectly nice cars go for a song, while others which never had any real value bring horrendous money. A Plymouth Barracuda convertible with the optional 426 hemi engine was a no sale with a bid of 4.1 million dollars. The Barracuda in its day was a piece of junk, and the hemi engine never delivered the performance it was supposed to. Why did this car bring such a high bid? Because they only made 14 of them. That should tell you something; out of thousands of buyers, virtually nobody wanted to spend the ridiculous amount of money required to purchase the 426 option. Word was out, it was a dog on the street. Collectors overlook this obvious fact and concentrate on production numbers.

That aside, the average buyer should have a high degree of mechanical ability before entering this hobby. Either that, or an inexhaustible checkbook balance. Competent, skilled restoration technicians get upwards of $80.00 per hour, and they take their time. The average garage mechanic cannot do this kind of work and make it come out show quality. I know, because I can.

There are several levels of restoration touted by the "experts," but basically there are only two; factory original condition, and not. Sorry, you guys with your 1-5 systems, that's all there is. Original means the way the car should have left the assembly line under ideal conditions. These are the cars that are worth the most money. They represent the car as it was built; it is like stepping into a time machine and going back to 1959 or whatever year the car may be.

Most show cars are over restored. The gleaming, clearcoated frame with the weld spatter ground out may look fantastic, but that isn't the way the car left the factory. Basecoat clearcoat paint isn't original either. I've seen people throw fits at car shows when they lose points for this sort of thing.

Over restored cars are classified as custom rather than as original. The other custom cars are more obvious; non original engines, transmissions, interiors, etc. There is a market for this, just ask Boyd Coddington or Barry White. However, it isn't where the heavy money is. Nobody ever bid 4 million for one of Boyd's cars that I know of. On the end of the scale is the clone, an absolutely worthless car collector wise which should only be purchased as a driver.

When you attempt to buy one of these cars, step back and look at what you're buying. Don't let emotions run wild when you see a 1957 Chevy, because there are quite a few of them out there. Research the prices for the best specimens; a good place to start is Barrett-Jackson auctions or the Kruse auctions. Evaluate the car you're looking at, try to determine what amount of money will be required to bring it up to 100 point status, and do the math. That will be your high end offering price.

It doesn't matter what the seller wants. There are hundreds of perfectly awful cars on Ebay with prices that are just laughable, they are so far off that you can't even talk to the seller. Let them go, don't waste your time. Pick something reasonable, and make sure the parts required to bring the car up to grade are available at a price you can afford. Parts are awfully expensive, whether NOS or reproduction. If you can't justify the expense, put it on the seller, not yourself. Make him tell you why you should pay the asking price.

Appraisers are readily available, and car clubs can often provide an expert who can quickly evaluate a car for you. Sometimes just reading the description is enough, I'd had many laughs at the expense of sellers who can't even get the year and model right.

A good rule of thumb for a novice is to buy the best car you can afford. Don't waste your time on "project" cars.....most of them are just awful pieces of junk that will never justify the expense of restoration. Think of it this way; a full frame off "nut and bolt rotisserie" restoration will cost you at least $125,000 at a good shop. Oh, that rotisserie thing.....that isn't a chicken dinner, it's a big contraption you bolt the body and frame to. It then allows you to spin the car around, like a rotisserie, so that the work can be done from a comfortable position. I'll take the chicken dinner.